TaxTMI 
TaxTMI 
2022 (10) TMI 398
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....ore, the said notice along with the assessment order passed by the Assessing Officer on the foundation of such notice are liable to be quashed and CIT(A) erred in not holding so. 2. On the facts and circumstances of the case and in law, the reassessment proceeding initiated by the Assessing Officer is contrary to specific provisions of section 147 to 151 of the Income-Tax Act, 1961 and, therefore, the said reassessment proceeding initiated along with the assessment order passed by the Assessing Officer on the foundation of such proceeding are liable to be quashed and CIT(A) erred in not holding so. 3. On the facts and circumstances of the case and in law, the CIT(A) erred in confirming addition of Rs. 35,63,423/- made by the Assessing O....
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....uch reasoning, the assessing officer reopened the assessment under Section 147 of the Act. Though, the assessee objected to the reopening of assessment, however, rejecting the objection of the assessee, the assessing officer proceeded to complete the assessment under Section 147/143(3) of the Act by adding back the amount of Rs. 35,63,423. The addition made was also sustained by learned Commissioner (Appeals). 6. Before me, learned counsel appearing for the assessee submitted that the reopening of assessment was after four years from the end of the relevant assessment year. He submitted, since, the original assessment was made under Section 143(3) of the Act, the assessing officer could not have reopened the assessment without demonstratin....
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....d the material available on record. 11. Undisputedly, in assessee's case, original assessment was completed under Section 143(3) of the Act on 29.12.2011. Whereas, the assessing officer has issued notice under Section 148 of the Act on 08.03.2016, meaning thereby, the reopening of assessment was made after expiry of four years from the end of the relevant assessment year. In fact, the assessing officer has reopened assessment in March, 2016 just prior to expiry of six years from the end of the relevant assessment year. Thus, the conditions of proviso to section 147 would apply. In other words, the assessing officer has to demonstrate that the escapement of income was due to failure on the part of the assessee to furnish all material fa....